What questions should I ask before buying a condo?

Q: In my golden years, I was planning to sell my single family home and buy a condo. After the recent tragedy and many other issues that have recently arisen, I realized that I have to ask many questions that I never thought of before buying anything. If I finally decide to buy a condo, what questions should I ask myself? -Married

A: Everyone should do their research before buying a new home. I see far too many buyers who seem to be doing the minimum before making the most important purchase of their life.

This problem is compounded when it comes to community associations that offer another level of governance and potential problems. It’s even more complicated when you share the ownership of a building with your neighbors.

You can reduce the risk of having a costly or aggravating problem by asking the right questions and carefully reviewing your community’s documents. Read the community statement or restrictions and rules.

Review at least a year of board meeting minutes and carefully review the budget and year-end financials to make sure your potential neighborhood is being managed appropriately.

Before buying a condo, you should always ask yourself certain questions: What are the monthly contributions and what do they cover? Are the reserves sufficiently funded to cover future maintenance needs? Do the building and grounds look neat? Are there any special assessments planned or recently adopted? How many owners are in default? Are most units occupied by tenants or owners? Has anyone recently sued the association? Is the management company easy to deal with?

There are also some more personal considerations: will your furniture fit? Are your potential neighbors loud? Are they nice? Does the community seem well suited to your lifestyle? Is the parking right for your needs? Why is the current owner selling the apartment?

A real estate agent can help you get these answers and suggest others. Find an agent you connect with while making sure they have the experience to help you find your next dream home.

Josh Green, 32, left, visits a renovated one-bedroom junior condominium in Chicago on March 12, 2021.

Gary M. Singer is a Florida attorney and board certified as an expert in real estate law by the Florida Bar. He practices real estate, commercial litigation and contract law from his office in Sunrise, Florida. He is chair of the real estate section of the Broward County Bar Association and co-host of the weekly radio show Legal News and Review. He consults frequently on general Florida real estate issues and trends with various companies across the country. Send him questions online at www.sunsentinel.com/askpro or follow him on Twitter @GarySingerLaw.